I agree with what you say. Sorry bitcoin enthusiasts.

Bitcoin isn't revolutionary in itself, the blockchain is however. It's the concepts of cryptocurrency and blockchains that allow people to build crypto companies and crypto brokers today. Not one particular currency.

A currency is worth nothing if people don't conduct business with it. Bitcoin could be replaced by any other digital currency, or banned by monetary institutions and governments.

On the other hand, blockchain will remain. Blockchain is a technology, just like deep learning is. Bitcoin is only one possible application of this new technology.

And the value of Bitcoin today is everything but irrational. The fact that 2% of people own 95% of Bitcoin, the fact that this "asset" is not based of a real value makes it the perfect instrument for aspiring "wolves of Wall Street". Except they can manipulate its value and leave with the profits without breaking the Law.

In summary, Bitcoin is like a wrestling ring for speculation. It's a place where people can do what would be forbidden on the real market for fun, while others are betting on a potential winner.

French writer, jurist, youth worker.

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